Skydance closes Warner Bros. Discovery takeover at $31.01666668 a share

Skydance completed its acquisition of Warner Bros. Discovery on Tuesday, according to a Form 8-K.

Warner Bros. Discovery survives as a wholly owned Skydance subsidiary. Each eligible WBD share was canceled and converted into the right to receive $31.01666668 in cash. That figure includes six days of ticking consideration after September 30, worth $41,886,975.78 across eligible shares.

Trading stopped before the open.

WBD asked Nasdaq to delist its stock, while Skydance moved its Class B listing from Nasdaq to the New York Stock Exchange and changed the ticker from PSKY to SKYD. A September 30 filing says the federal court modified its no-close order after entering a consent decree with 12 states.